SG Americas Securities LLC Has $706,000 Holdings in Shoals Technologies Group, Inc. $SHLS

SG Americas Securities LLC grew its position in Shoals Technologies Group, Inc. (NASDAQ:SHLS) by 306.8% in the third quarter, Holdings Channel reports. The fund owned 95,284 shares of the company’s stock after acquiring an additional 71,863 shares during the quarter. SG Americas Securities LLC’s holdings in Shoals Technologies Group were worth $706,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SHLS. Nisa Investment Advisors LLC increased its holdings in Shoals Technologies Group by 449.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,226 shares of the company’s stock worth $31,000 after purchasing an additional 5,910 shares in the last quarter. Savant Capital LLC bought a new stake in shares of Shoals Technologies Group during the second quarter worth about $50,000. Ethic Inc. acquired a new position in shares of Shoals Technologies Group in the second quarter valued at approximately $54,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Shoals Technologies Group in the first quarter valued at approximately $57,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Shoals Technologies Group by 43.4% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,569 shares of the company’s stock valued at $62,000 after buying an additional 4,412 shares during the last quarter.

Shoals Technologies Group Price Performance

Shares of SHLS opened at $9.05 on Thursday. Shoals Technologies Group, Inc. has a 52-week low of $2.71 and a 52-week high of $11.36. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.53 and a current ratio of 2.19. The business’s 50 day moving average price is $8.60 and its two-hundred day moving average price is $7.78. The firm has a market cap of $1.51 billion, a PE ratio of 45.25, a price-to-earnings-growth ratio of 0.78 and a beta of 1.70.

Shoals Technologies Group (NASDAQ:SHLS) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. Shoals Technologies Group had a net margin of 7.66% and a return on equity of 8.50%. The company had revenue of $135.80 million during the quarter, compared to the consensus estimate of $131.37 million. On average, equities analysts anticipate that Shoals Technologies Group, Inc. will post 0.29 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Dominic Bardos sold 4,170 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $7.83, for a total transaction of $32,651.10. Following the transaction, the chief financial officer directly owned 412,289 shares of the company’s stock, valued at approximately $3,228,222.87. This represents a 1.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.67% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley restated an “equal weight” rating and issued a $9.50 price target (down from $11.00) on shares of Shoals Technologies Group in a research report on Tuesday, December 16th. Needham & Company LLC started coverage on Shoals Technologies Group in a report on Wednesday, October 22nd. They issued a “buy” rating and a $12.00 price objective for the company. Guggenheim raised their target price on Shoals Technologies Group from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Barclays upgraded Shoals Technologies Group from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $7.00 to $10.00 in a research report on Thursday, October 2nd. Finally, Roth Mkm restated a “buy” rating and set a $15.00 price objective (up from $10.00) on shares of Shoals Technologies Group in a research report on Wednesday, November 5th. Eleven research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.44.

Shoals Technologies Group Company Profile

Shoals Technologies Group, Inc is a leading provider of electrical balance-of-system (BOS) solutions for the solar energy industry. The company designs, engineers and manufactures a comprehensive portfolio of products, including junction boxes, combiner boxes, cable assemblies, power distribution units and monitoring systems. These components are critical to interconnecting photovoltaic modules, optimizing energy output and ensuring safe, reliable performance across solar installations.

Founded in 1996 and headquartered in Portland, Tennessee, Shoals has grown its manufacturing and operations footprint to serve customers around the globe.